A Master Class in FX Intraday Trading by F & Co

[NickBk]

Agree with you Nick

Even if they dont get it at exact time etc - then its just waiting for slight pullbacks and checking the PA and the LRs and the levels etc to make sure we stay with HH's and HLs

Just checked on my tick chart from 11 21 am UK time

Times to buy on slight pullbacks etc

11 27 am - 11 35 am -Midday at 156 70 ( gone over 30 mins as well ) - 12 09 pm at 157 00 area - then 12 30 - 12 39pm times it topped around 157 35 - 45 area - in fact in all a 115 -20 pip rise - that was all a nice rise with no real pullbacks

then next 2 hrs we get the ups and downs with another HH up to 157 65 area - and then a 100 pip drop whilst I was scalp selling the GU

The fact that my way is not conventional probably worries many traders - I am pleased you are able to see all its benefits etc and take full advantage - good stuff Nick

Conventional or not, if someone shows you and idea, better to check it out rather than insult the author. It really does work, maybe it won't be this good forever but at the moment it is unbelievably good. Not every day will be 400 pips like today but I will be happy with 75/100 daily in the long run.

 

[Forexmospherian]

Yes I was in, now try a GJ chart at the same time till now -))))

Fish in a barrel at the moment...

YES - Spot on - same time on lovely turn set up at 2 19pm UK time as GU

This is GJ set up

 

[NickBk]

YES - Spot on - same time on lovely turn set up at 2 19pm UK time as GU

This is GJ set up

All pullbacks keeping under the medium lr's and us in the game.
Having a cracker here.... unreal stuff.

 

[Forexmospherian]

Conventional or not, if someone shows you and idea, better to check it out rather than insult the author. It really does work, maybe it won't be this good forever but at the moment it is unbelievably good. Not every day will be 400 pips like today but I will be happy with 75/100 daily in the long run.

Its been working OK with some fine tuning for over 7 yrs

It will require more fine tuning in the future as 5 yrs plus ago - the 15 min and 45 min times had more influence

 

[NickBk]

Its been working OK with some fine tuning for over 7 yrs

It will require more fine tuning in the future as 5 yrs plus ago - the 15 min and 45 min times had more influence

Well I hope it lasts as I am certainly enjoying it lately and the 'scalps' are unusually big too. Not too many 6-8 pip scalps lately lol.

 

[NickBk]

Ok F,
That's me for today. I had a lot of fun and no dramas either, always good.
Catch you tomorrow and good luck.
Cheers

 

[Forexmospherian]

Ok F,
That's me for today. I had a lot of fun and no dramas either, always good.
Catch you tomorrow and good luck.
Cheers

Glad you have had another cracking day

It might only be a 4 day week for me - as not sure but could be out all day tomorrow

Its a shame but as already mentioned my normal trading routines might not be back to normal for a few more weeks and so some days I will not be around

Dont like trying to trade short term intraday from a tablet etc - so when I am out an about just have to leave it and hope to catch up with a few big days throughout the month

All the best


F

 

[keen246]

6 27 am

Whether you are covering just 2 pairs or even 8 pairs - make sure you have got your "wrapping" levels - ie Prices that are saying buy more as you are in bull bias for this part of the session - and of course prices that are for selling as they are in the bear bias part of price structure
#

As an example - I will use the EU -

Above 1020 and 35 - favours scalp buys - as above the LiTS bias area for now

Below 1000 and 0980 - yes we go back into bear land - that favours scalp sells

From 1000 to 1020 - thats the area that manipulation and play can catch you out- so you either stay out or just scalp knowing you might only catch 5 pips - until we go into the bull or bear areas

Then you look for your S & R levels - both main key ones and interim levels - so that you are aware of the obstacles both sides of price and in both areas etc

Hi F,

It seems logic to me to update the LiTs area along the session, because as we know, the Bias can change more than twice in a single session. I guess that's the LPs trying to screw us all. Anyhow, I would like to how how often you update the LiTs during a session? Or what criteria you use to update the LiTs?

Cheers,
Keen246

 

[Forexmospherian]

Hi F,

It seems logic to me to update the LiTs area along the session, because as we know, the Bias can change more than twice in a single session. I guess that's the LPs trying to screw us all. Anyhow, I would like to how how often you update the LiTs during a session? Or what criteria you use to update the LiTs?

Cheers,
Keen246

Hi Keen

At least every 2 hrs - never leave it more than 3 or 4 hrs - but all depends on the volumes and movements of the day

Today the EU as been fairly FLAT

It worth comparing with EJ - that was in a bull bias most of day - even with the pullbacks

Sometimes in a day the Lit's area can change 2 or 3 times - other days especially on the same moves even if only 80 - 120 pips over say 6 hrs plus - price stays in one bias area all day

I am using the longest LRs on the 1 min along with nearest S & R levels

Not got a pair just to show you with one Lits area at say Opens - and then another one totally different say 6 hrs later at US session

When I see one will post it

Hope that helps


Regards


F

 

[keen246]

Hi Keen

At least every 2 hrs - never leave it more than 3 or 4 hrs - but all depends on the volumes and movements of the day

Today the EU as been fairly FLAT

It worth comparing with EJ - that was in a bull bias most of day - even with the pullbacks

Sometimes in a day the Lit's area can change 2 or 3 times - other days especially on the same moves even if only 80 - 120 pips over say 6 hrs plus - price stays in one bias area all day

I am using the longest LRs on the 1 min along with nearest S & R levels

Not got a pair just to show you with one Lits area at say Opens - and then another one totally different say 6 hrs later at US session

When I see one will post it

Hope that helps


Regards


F

Thanks F. You reply totally makes sense and is in line with my observations. I reckon I need to be more active updating the LiTs area.

Good evening,
K

 

[Forexmospherian]

Here's a nice set up from today on LiTs bias

UCad

Did not trade it at all - shame - but nice bear bias from after opens this morning with price under the LiTs all the while

 

[forker]

The last 2 weeks I have been working the 5min and I have to say it's been very rewarding. How's your week going folks

 

[Forexmospherian]

The last 2 weeks I have been working the 5min and I have to say it's been very rewarding. How's your week going folks

Hi Forker

I would agree that this month as been good - especially last 2 weeks

If you have been down working on the 5 min chart ( far too slow though ;-) ) then you hopefully would have been catching more both way intraday rallies through out the day

Just out of interest I have just checked out the main 8 or so pairs we normally cover in this thread along with the main pip moves in just their main trend over this last 9 days ( Even when a busy pair moves say over 120 pips + in direction over a main daily session - there can still be up to half of those pips available in intraday trades against the daily trend ( ie counter trend )

I have not counted those in this list

In reverse order -

Approx pip movement in the "trend " of this 9 day period


AU - Approx 160 pips in bull rises

EU - Approx 250 pips in bear falls

UChf - Approx 300 pips in bull rises

UJ - Approx 340 pips in bear falls

UCad - Approx 370 pips in bear falls

Now the so called "beasts" we focus more on

EJ - Approx 500 pips in bear falls

GU - Approx 600 pips in bear falls

GJ - Approx 1000 pips in bear falls

GA - Approx 1100 pips in bear falls

The last 3 have been the Holy Trinity this last 5 trading days - all due to the concerns over the UK Pound and the EU referendum vote announced for June

My own daily target is 50 pips a day so - over 9 days target 450 pips

If you add up the total above - we get approx 10 times that - but I have not covered all 9 pairs - normally only 3 to 4 a day - and then just look at 35% of that amount and you can see it certainly achievable to make over 1000 pips over the 9 days.

I believe 2 of the contributors beside myself have had over 300 pips in just a one day session during this period - mainly by cherry picking the big movers

Lets hope we see more of these types of moves all the way up to the EU vote and of course the US Presidential election later on in the year - that would be good

Regards


F

 

[forker]

I certainly have been trading both ways which is why it's been so enjoyable. To be honest I don't bother with watching lots of pairs I seem to have more than enough going on with one pair. Perhaps as I get used to it I could look at more pairs.

 

[keen246]

Here's a nice set up from today on LiTs bias

UCad

Did not trade it at all - shame - but nice bear bias from after opens this morning with price under the LiTs all the while

Hi F,

Could you please upload a chart where you mark when the PS changes from bullish to bearish of vice versa? A chart with some 3 changes would be helpful.
I'm reviewing my notes and want to make sure I got the concept right.

Thanks in advance.
Cheers,
K

 

[Forexmospherian]

Hi F,

Could you please upload a chart where you mark when the PS changes from bullish to bearish of vice versa? A chart with some 3 changes would be helpful.
I'm reviewing my notes and want to make sure I got the concept right.

Thanks in advance.
Cheers,
K

Hi Keen

Yes I will find some examples out tomorrow and post them

Having an early night as got a really early start as doing an airport drop off for a family member and doubt if I will be here around first thing - might be back though for London Open at 8 00 am

So no scalping on the EA and other "beasts" before the Opens tomorrow

All the best


Regards


F

Y

 

[NVP]

Hi Forker

I would agree that this month as been good - especially last 2 weeks

If you have been down working on the 5 min chart ( far too slow though ;-) ) then you hopefully would have been catching more both way intraday rallies through out the day

Just out of interest I have just checked out the main 8 or so pairs we normally cover in this thread along with the main pip moves in just their main trend over this last 9 days ( Even when a busy pair moves say over 120 pips + in direction over a main daily session - there can still be up to half of those pips available in intraday trades against the daily trend ( ie counter trend )

I have not counted those in this list

In reverse order -

Approx pip movement in the "trend " of this 9 day period


AU - Approx 160 pips in bull rises

EU - Approx 250 pips in bear falls

UChf - Approx 300 pips in bull rises

UJ - Approx 340 pips in bear falls

UCad - Approx 370 pips in bear falls

Now the so called "beasts" we focus more on

EJ - Approx 500 pips in bear falls

GU - Approx 600 pips in bear falls

GJ - Approx 1000 pips in bear falls

GA - Approx 1100 pips in bear falls

The last 3 have been the Holy Trinity this last 5 trading days - all due to the concerns over the UK Pound and the EU referendum vote announced for June

My own daily target is 50 pips a day so - over 9 days target 450 pips

If you add up the total above - we get approx 10 times that - but I have not covered all 9 pairs - normally only 3 to 4 a day - and then just look at 35% of that amount and you can see it certainly achievable to make over 1000 pips over the 9 days.

I believe 2 of the contributors beside myself have had over 300 pips in just a one day session during this period - mainly by cherry picking the big movers

Lets hope we see more of these types of moves all the way up to the EU vote and of course the US Presidential election later on in the year - that would be good

Regards


F

Good analysis F........I follow individual currency indexes in my trading and again this week for certain currencies it's off the charts.......mr GBP being lead example

When you get this kind of action everyone makes money.........my junk mail is full,of every bloody second rate vendor and system scammer sending me their results last,2 weeks

Sigh :whistling
N

 

[Forexmospherian]

Friday 26th February 2016 - London Open at 8 00 am

Good Morning Guys

Was up before 5 00 am this morning - but not for trading unfortunately and only got back from an airport drop off in last 5 mins - so therefore a very late start

Its London Open in approx 8 mins time or so

Going to get a coffee and will have a quick scan through all the main pairs to see what's going on

Will be around for at least 90 mins this morning and then will pop in every few hours over the course of the day - but know I am at a meeting between 3 15 and 4 30 pm

Please feel free to post your charts and comments and thoughts on any FX pairs etc

Even if you use another method to Intraday trade - no problem - lets see how it compares etc etc

Have a good day


Regards


F

 

[Forexmospherian]

EU

8 04 am

Remind me not to keep dissing this pair as now and again it does move OK

This morning it cannot so far make over 1066 -70 price area

Its peaked for now with a LH at 66 to 68 over 4 hrs ago and so it a scalp sell below 1060

Supports -1040 - 1020 - 1000 - 0990/80

 

[Forexmospherian]

GU

8 08am

So far its in a bullish PS above 3930 area and its peaked early morning at approx 4011

From 6 30 time window its just been a lovely scalp buy from 3968 and it now near 4000

I will post my GU tick chart in a bit as the set up was first class with great PA and it kept to all my method rules etc

4000 and 4010 are both R areas - so might be able to catch a nice pullback soon